Politico Morning Tax: Let’s Talk SALT

Cuomo is far from the only Democratic governor or lawmaker to unload on the SALT cap as, essentially, a broadside against progressive states. But at least one liberal think tank is calling for the limits to stay in place, even as it continues to denounce the TCJA as a giveaway to the wealthy. “Outright repeal of the cap would primarily benefit the richest households,” the Institute on Taxation and Economic Policy wrote, adding “that in nearly every state, at least half of the benefits would flow to the top 1 percent of households in 2019.”Read more